Microsemi Sees Unusually Large Options Volume (NASDAQ:MSCC)

Microsemi Co. (NASDAQ:MSCC) saw unusually large options trading on Monday. Investors bought 3,236 put options on the stock. This represents an increase of approximately 1,179% compared to the average volume of 253 put options.

In other news, Director Paul F. Folino sold 4,500 shares of the stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $67.27, for a total transaction of $302,715.00. Following the sale, the director now owns 1,070 shares in the company, valued at $71,978.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David Goren sold 2,090 shares of the stock in a transaction on Friday, March 16th. The stock was sold at an average price of $66.43, for a total value of $138,838.70. Following the sale, the senior vice president now owns 10,539 shares in the company, valued at approximately $700,105.77. The disclosure for this sale can be found here. Insiders have sold 8,692 shares of company stock worth $577,679 in the last 90 days. Company insiders own 0.57% of the company’s stock.

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A number of large investors have recently added to or reduced their stakes in MSCC. American Century Companies Inc. lifted its stake in Microsemi by 2.9% in the third quarter. American Century Companies Inc. now owns 119,934 shares of the semiconductor company’s stock valued at $6,174,000 after buying an additional 3,371 shares during the period. FDx Advisors Inc. acquired a new stake in shares of Microsemi during the third quarter worth about $401,000. CIBC Asset Management Inc acquired a new stake in shares of Microsemi during the third quarter worth about $203,000. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Microsemi by 68.6% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 33,583 shares of the semiconductor company’s stock worth $1,729,000 after purchasing an additional 13,660 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Microsemi by 13.4% during the third quarter. Rhumbline Advisers now owns 263,511 shares of the semiconductor company’s stock worth $13,566,000 after purchasing an additional 31,170 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:MSCC traded down $0.28 during mid-day trading on Thursday, hitting $64.26. The company had a trading volume of 1,426,048 shares, compared to its average volume of 3,189,135. Microsemi has a fifty-two week low of $46.08 and a fifty-two week high of $67.52. The company has a current ratio of 2.36, a quick ratio of 1.55 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $7,589.18, a price-to-earnings ratio of 19.71, a PEG ratio of 1.38 and a beta of 1.18.

Microsemi (NASDAQ:MSCC) last released its earnings results on Thursday, January 25th. The semiconductor company reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. Microsemi had a return on equity of 21.50% and a net margin of 11.10%. The firm had revenue of $468.70 million for the quarter, compared to analyst estimates of $460.17 million. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. sell-side analysts predict that Microsemi will post 3.51 earnings per share for the current year.

MSCC has been the topic of several research analyst reports. Stifel Nicolaus cut Microsemi from a “buy” rating to a “hold” rating and set a $68.00 target price on the stock. in a report on Friday, March 2nd. KeyCorp increased their target price on Microsemi to $70.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. BMO Capital Markets reiterated a “buy” rating and issued a $68.00 price target on shares of Microsemi in a report on Friday, January 26th. BidaskClub upgraded Microsemi from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, Piper Jaffray initiated coverage on Microsemi in a report on Monday, December 18th. They issued an “overweight” rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $64.32.

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About Microsemi

Microsemi Corporation is a designer, manufacturer and marketer of analog and mixed-signal semiconductor solutions differentiated by power, security, reliability and performance. The Company offers a portfolio of semiconductor and system solutions for aerospace and defense, communications, data center and industrial markets.

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